XRP Notches Best Week Since 2024 Election Pump on Bitcoin Short Squeeze
The token's steepest daily and weekly gains in months rode Bitcoin's record liquidation wave—though ETF flows and futures data hint the move is running on borrowed momentum.
Bitcoin's surge highlights the volatility and influence of macroeconomic policies and regulatory clarity on crypto markets, impacting future trends.
Bitcoin's sharpest rally in five months flipped prediction-market odds from bearish to a coin flip—but the longer-term bets still price in a crash.
August 20, 2026, 7:16 pmPeter Schiff, a known bitcoin critic, argued that the bitcoin rally was fake, a result of investors rushing to position liquidity as the Treasury buybacks announcement caught markets by surprise. Paradoxically, he recommended investing in gold for the same reasons.
August 20, 2026, 6:32 pmThe token's steepest daily and weekly gains in months rode Bitcoin's record liquidation wave—though ETF flows and futures data hint the move is running on borrowed momentum.
Bitcoin surged past $72,000 to a session high of $72,850, gaining approximately 14% over four days and raising its market capitalization to $1.45 trillion. Intraday Price Action and Breakout Bitcoin’s unrelenting surge showed no signs of abating Thursday afternoon as the top cryptocurrency capitalized on pro-crypto sentiment from a White House meeting.
Seventeen alleged members of Iran-based Mabna Institute were charged over hacks targeting hundreds of universities, companies, and government agencies.
Peter Schiff, a longtime Bitcoin critic, said on Thursday that BTC’s rise to above $72,000 is a false breakout built on a one-off Treasury move. Bullish analysts, on the other hand, regard the same week’s data as the start of a fresh cycle for Bitcoin.
Analysts say the move is supported by spot and ETF demand, though BTC will need to hold above $70k to show the rally can outlast the squeeze.
Nine public miners generated $341 million from AI and HPC operations in the first half of 2026 after spending more than $5 billion on capital assets.
Bitcoin punched above $72,000 Thursday, extending a two-day squeeze that's wiped out the most short positions on record and mounted the first real challenge to a bearish chart that's held since November.
Bitcoin Short Squeeze Puts Record Liquidation Claim Back In Focus - Read the full analysis.
Bitcoin saw new multimonth highs above $72,500 even as US stocks cooled amid US threats of “economic warfare” with Iran.